Banks: meaning, definitions and examples
๐ฆ
banks
[ bรฆลks ]
financial institution
Banks are financial institutions that accept deposits from the public, create credit, and provide loans. They play a crucial role in the economy by facilitating transactions and providing services to individuals and businesses.
Synonyms
credit union, financial institution, savings and loan.
Examples of usage
- She deposited her paycheck at the bank.
- The bank offered a variety of loan options.
- He went to the bank to open a savings account.
- Many banks provide online banking services.
physical site
A bank can also refer to a physical site where transactions are conducted. These are typically characterized by their buildings where customers can visit for various banking services.
Synonyms
Examples of usage
- The new bank opened its doors last week.
- We needed to find a bank that was open on Saturday.
- I met her at the bank to discuss our finances.
Translations
Translations of the word "banks" in other languages:
๐ต๐น bancos
๐ฎ๐ณ เคฌเฅเคเค
๐ฉ๐ช Banken
๐ฎ๐ฉ bank
๐บ๐ฆ ะฑะฐะฝะบะธ
๐ต๐ฑ banki
๐ฏ๐ต ้่ก
๐ซ๐ท banques
๐ช๐ธ bancos
๐น๐ท bankalar
๐ฐ๐ท ์ํ
๐ธ๐ฆ ุจููู
๐จ๐ฟ banky
๐ธ๐ฐ banky
๐จ๐ณ ้ถ่ก
๐ธ๐ฎ banke
๐ฎ๐ธ bankar
๐ฐ๐ฟ ะฑะฐะฝะบัะตั
๐ฌ๐ช แแแแแแแ
๐ฆ๐ฟ banklar
๐ฒ๐ฝ bancos
Etymology
The word 'bank' originates from the Italian word 'banco', meaning 'bench'. This was because moneylenders used to conduct their business on benches in public places. The term spread throughout Europe, leading to the establishment of formal banks in the late Middle Ages. Originally, banks were used for the exchange of currency and the safekeeping of money. By the 17th century, the concept of a bank as a place to deposit funds and obtain credit became more formalized. The evolution of banking has continued, reflecting the growth of commerce, trade, and later, modern financial systems. The establishment of central banks further solidified the role of banks in managing the economy.